Billionaire Ken Fisher Sells $3 Billion Stake in Fisher Investments
Billionaire Ken Fisher is selling a minority stake in Fisher Investments to Advent International and the Abu Dhabi Investment Authority for up to $3 billion. This deal values the company at $12.75 billion and aims to ensure the firm's long-term independence. Fisher, 73, emphasised that his health is good and that this move is part of his estate planning. Fisher Investments, managing $275 billion for over 150,000 clients, will continue to operate independently. This sale comes after previous denials of such negotiations earlier this year.
ECB Says Hold On to Your Hats - Rate Cuts Depend on Inflation Behaving!
European Central Bank (ECB) hinted that more interest rate cuts might have to wait until September. Boris Vujcic says the ECB needs to see inflation cool down more before they can even think about lowering borrowing costs again.
They recently cut rates a tiny bit, but inflation is still a bit higher than their target of 2%. Vujcic says they'll be watching inflation data closely over the summer, and if it doesn't improve, a September rate cut is unlikely. He's also keeping an eye on service costs, which are trickier to control than the prices of everyday goods. The wait for cheaper borrowing might take a bit longer, folks!
China's Home Prices Keep Slumping Despite Rescue Efforts
Home prices in China are dropping even faster than before, even though the government is trying really hard to fix the housing market. They relaxed mortgage rules and encouraged cities to buy unsold homes, but so far it's not working. People are worried about the economy and don't seem interested in buying houses right now. Analysts are hoping the government will come up with even stronger measures to turn things around, but for now, the housing slump in China keeps getting worse.
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